Carson Advisory Inc. Has $777,000 Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Carson Advisory Inc. raised its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,049 shares of the home improvement retailer’s stock after purchasing an additional 85 shares during the quarter. Carson Advisory Inc.’s holdings in Lowe’s Companies were worth $777,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in LOW. Norges Bank acquired a new stake in Lowe’s Companies during the 4th quarter valued at $1,638,746,000. International Assets Investment Management LLC acquired a new stake in shares of Lowe’s Companies during the fourth quarter worth $430,090,000. Canoe Financial LP acquired a new stake in shares of Lowe’s Companies during the fourth quarter worth $206,912,000. Pathstone Holdings LLC acquired a new stake in shares of Lowe’s Companies during the fourth quarter worth $126,615,000. Finally, Corient Private Wealth LLC lifted its holdings in shares of Lowe’s Companies by 126.3% during the fourth quarter. Corient Private Wealth LLC now owns 865,867 shares of the home improvement retailer’s stock worth $192,699,000 after buying an additional 483,216 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock traded up $4.41 during midday trading on Wednesday, reaching $220.74. The company had a trading volume of 1,985,023 shares, compared to its average volume of 2,537,262. The stock has a fifty day moving average price of $223.06 and a 200 day moving average price of $228.01. The firm has a market cap of $125.79 billion, a PE ratio of 17.73, a P/E/G ratio of 1.66 and a beta of 1.08. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.12. The company had revenue of $21.36 billion for the quarter, compared to analyst estimates of $21.14 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.67 earnings per share. As a group, sell-side analysts forecast that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.27%. The ex-dividend date is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio (DPR) is presently 35.34%.

Analyst Ratings Changes

LOW has been the subject of a number of research reports. Telsey Advisory Group reissued a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a report on Tuesday, May 21st. Wedbush reissued a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Evercore ISI decreased their price target on Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 2nd. Zelman & Associates restated a “neutral” rating and issued a $265.00 price target on shares of Lowe’s Companies in a research report on Tuesday, April 2nd. Finally, Truist Financial decreased their price target on Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Fifteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $250.41.

About Lowe’s Companies

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.